TikTok has finalized a deal to divest from ByteDance, avoiding a potential US ban. ByteDance retains a 20% stake, while the remaining 80% is held by US-based investors including Oracle, Silver Lake and MGX. The new joint venture will store US user data and run TikTok’s algorithm on Oracle servers, with Oracle also handling content moderation. CapCut and Lemon8 are included in the deal, and operations will be overseen by a mostly American board.
Source: GSMArena
